Delhi report 8 x 8 FINAL aw

THE RESIDENTIAL PROPERTY IN DELHI

GATEWAY TO

OCTOBER 2009

The true colour of India clads

the boisterous city of Delhi

in shades of high noted, sharp culture.

The capital of India is known for its loud life

and celebration; its inherent tradition of showmanship

and progress paving its way

into the fast track league of megapolises in the world.

And in the same vein of championing growth,

ICICI Home Finance Company

is proud to bring you the

an inside view at real estate opportunities in great city.

Allow us to take you through the great capital city

and showcase its great investment potentials

in the pages that follow.

Residential Property ReportDELHI

Delhi: A Fact File

Delhi, India's capital,is a sprawling city, along the banks of the Yamuna River, comprised of three areas:

Old Delhi, New Delhi, and the Delhi Cantonment. Archaeological excavations reveal the area was settled

as early as 1000 BC. Delhi, where an empire rose and fell before the dawn of history; where citadels of

emperors appeared and disappeared; a city of mysterious eternity whose old ruins proclaim a majestic

and imperial past and whose present pulsates vibrantly with the ever flowing life of India, became the

political, commercial, and cultural capital of a series of powerful empires.

The eternal Yamuna bears witness to the glorious and tumultuous 5,000 year old history of Delhi which

began with the creation of Indraprastha by the Pandavas and the transformation of this barren gift of the

Kauravas into an idyllic haven. A history which encompasses all the various kings and emperors who

fixed their royal citadels here - Indraprastha, Lal Kot, Quila Rai Pithora, Siri, Jahanpanah, Tughlakabad,

Ferozabad, Dinpanah, Delhi Sher Shahi or then Shahjahanabad. But, combined and integrated into one,

these 'new cities' have always been called Delhi and howsoever many names it may have acquired, Delhi

has always been intrinsically identified with power and imperial sway. There have been at least eight cities

around modern Delhi, and the old saying that whoever found a new city at Delhi will lose it has come true

every time -- most recently for the British who founded New Delhi in 1911.

The historic Purana Qila, which has stood witness to Delhi's rejuvenation, periods of anarchy, and the rise

& fall of empires, brings alive history of the capital. Delhi has seen the death of many empires and resisted

bloody attempts to eliminate her. Nadir Shah had ordered his soldiers to plunder and massacre Delhi.

It is said that he got so much wealth from Delhi that he was not able to carry in home. Abdali and Taimur

Lane were no different; they had tried their best to demolish the city of Delhi but it was some kind of

a boon which helped it to regain its lost glory each time Delhi was plundered.

Delhi was the focal point for the first war of independence in 1857. Though the revolt did not reach its

desired conclusion, Delhi became a thorn in the eyes of the British. Not only in ancient times or the

mediaeval period, Delhi has been the centre of any activity at all times. As the Britishers shifted their

capital from Calcutta to Delhi, all the activities during the freedom struggle were directed towards Delhi.

Thus, Delhi also bears the marks of the freedom struggle. The ultimate goal of the Azad Hind Fauz

during the freedom struggle was to capture Delhi and establish Swaraj. The slogan 'Dilli Chalo'

is still used by leaders and political parties when they organise any rally or demonstration.

It was the hoisting of the tricolor at Red Fort in Delhi which marked a chapter in the history of India.

Delhi, the National capital Territory, occupies an area of 1,483 sq. km. and has a population of nearly 14

million with the population of New Delhi alone exploding to 11,680,000. Delhi is considered to be the second

largest metropolitan city next to Mumbai with approximately 1,38,50,507 people dwelling in New Delhi,

according to Census 2001. In terms of population, it holds the top position among Union territories and

ranked eighteenth among all States and Union Territories in the country. Its population sharply rose by

46.31% during the decade 1991-2001 which was mainly due to the migration of people to the capital in

search of better standard of living.

Men-women ratio in Delhi has further widened when compared to 1991 Census. The sex ratio (i.e. the

number of females per thousand males) of population was recorded as 821, which has declined from 827

in the previous census. The total density of Delhi is 9340 per sq. km. The density of population in Delhi is

also the highest among all States and Union Territories.

Infrastructure

Delhi has seen major infrastructural changes over the past few years amidst increased foreign investment

and economic growth. The Delhi Metropolitan Area has been redefined comprising the National Capital

Territory of Delhi (NCTD), Ghaziabad-Loni Complex, Noida and Greater Noida-controlled area of Uttar

Pradesh, Faridabad-Ballabgarh Complex, Gurgaon, Bahadurgarh Kundli and the extensions of the Delhi

Ridge in Haryana.

Delhi NCR received an FDI investment of over USD 1456 million in the year 2008. Delhi NCR's infrastructure is

attracting MNCs and corporate bodies from all over the world. Information technology, BPOs and other

Financial and IT Services are among the growing industries in Delhi.

Recent developments and economical growth in Delhi have put the city on the global map competing with

other top notch cities in the world. Delhi has a much improved infrastructure with new roads, flyovers,

bridges, healthcare facilities, sanitation, etc.

Sighting the upcoming Commonwealth Games 2010, Delhi is geared up for transforming itself to a world

class city. Developments like Delhi Metro, flyovers, roads, high capacity buses, shopping malls, hotels and

Administrative Framework

Delhi has been divided into nine districts; each district headed by a Deputy Commissioner. Every district has

three sub-divisions; each sub-division being headed by Sub Divisional Magistrate. All the Deputy

Commissioners report to the Divisional Commissioner.

Population

Census population (millions) Average annual 1991 2001 growth rate (%) 1991-2001 by extrapolation (millions) 2009

09.42 13.85 3.78 18.63

Estimated population

townships reflect the growth of Delhi. Meanwhile, as part of its makeover plans for Delhi, the Planning

Commission has sanctioned Rs. 22,700 million in 2007 for its transportation network. This is 40% of the city's

budget of Rs. 52,000 million. By the year 2010, more hotels, a multi-modal transport system and a world-

class airport, nine museums, open-air theaters, light and sound shows, vastly improved civic services,

convention centres at Pragati Maidan, Yamuna diversity park of 457 acres, a metro link to the Nehru Stadium

and 38 high capacity bus corridors will be ready.

The Delhi Master Plan 2021 deviates from its predecessors to cater to a population of 23 million by 2021.

Vision 2021, integral to the Master Plan for Delhi aims to create a world-class city through a purposeful

transformation of the existing civic infrastructure. The government has outlined major proposals in Delhi

Master Plan-2021 (MPD 2021) which include major infrastructural changes in the city. Some of the main

proposals are extension of present commercial areas in Delhi, re-development in the form of new multi-

storied buildings and encouraging population shift to NCR.

Delhi Metro Rail:

The much awaited Metro has changed the transport facility of the city and has become the "life line" of Delhi

as people are dependent on Delhi Metro for commuting to different places within the city. Delhi Metro

Project has been recognized all over the world for its specialty in terms of a hi-tech rail and better equipped

transport system.

Greater Noida is all set to become the next destination for the Delhi Metro network; the project has a 2014

deadline. The Metro will be a further extension of the under-construction Noida line which connects the

existing Line 3 till Noida sector 32. This line will be operational by Oct 2009. The 29-km long Greater Noida

link will connect Noida sector 32 with Pari Chowk in Greater Noida. The proposed Metro line is going to run

along the Greater Noida expressway and will have stops at sector-50, sector-78, sector-101, sector-82, and

sector-92.

Delhi Airport: The Indira Gandhi International Airport is located 24 kilometers south of New Delhi and all

major airlines across the world operate flights to and fro from this airport.

Delhi Transport System: Delhi Transport Corporation (DTC) is one of the main transportation mediums in

Delhi. The service has come a long way since its inception in the year 1984. DTC plies all round Delhi with

buses at frequent intervals to ease the commuting of passengers. DTC is the world's largest compressed

natural gas bus service. Apart from the bus service of the DTC, the private Blue Line services are also

operational.

Delhi is well connected to other parts of India by five National Highways: NH 1, 2, 8, 10 and 24. However the

increasing traffic and congestion has paved the proposal for an expressway.

There are two expressways proposed -

• Kundli-Manesar-Palwal Expressway (135 km stretch) – This is on the western side of Delhi, hence is

proposed to be termed as WESTERN PERIPHERAL EXPRESSWAY. The expressway will take off from NH1

at Kundli and will join NH2 at Palwal via Manesar connecting NH8 and NH10. Construction work has

already started.

• Faridabad-Noida-Ghaziabad (FNG) Expressway Corridor (105 km stretch) - It passes through Haryana

and UP. To be termed as EASTERN PERIPHERAL EXPRESSWAY. The expressway will take off at Kundli

and will join NH2 at Faridabad via Ghaziabad and Noida, connecting NH24.

• It would act as a ring road to NCR. The expressways once completed would link areas of Kundli, Manesar,

Palwal with Gurgaon, Faridabad, Noida & Ghaziabad.

• Construction work started for Northern and Southern Peripheral roads - being planned to decongest traffic

on NH8. Once the project is completed, traffic bound for Dwarka and IGI Airport from Gurgaon and Jaipur

will have the option to skip NH-8.

• 16 km long Northern Peripheral Expressway (NPE) connects NH-8 (Gurgaon Expressway) with Dwarka.

The 150-meter wide (eight-lane) expressway was planned in the Gurgaon Master Plan 2021 and would be

the widest expressway in NCR with 30 meters of green belt alongside.

A number of private developers have acquired licenses from the Haryana government to develop townships

all along this expressway that would connect the proposed Southern Peripheral Expressway (SPE) on the

other side of the Gurgaon Expressway. The six-lane SPE would connect Gurgaon Expressway with

Faridabad Road and MG Road.

• The proposed 25,000-acre Reliance Industries Limited (RIL) promoted special economic zone (SEZ)

promises to change the face of the road. To be set up on land stretching along Garhi Harsuru near Manesar

and Badli on the Farrukhanagar-Jhajjar road, when complete in 5-10 years, India's largest SEZ promises

to catalyse investments up to Rs. 1,000,000 million. Kundli-Manesar-Palwal Expressway will also cut

through NH-8, fuelling rates in Bhiwadi, Neemrana and even in the outskirts of the Pink City, Jaipur.

SEZ Update

Details of the SEZs located in Delhi are tabulated below:

Sr. Area No. (in hectares)

1 Aachvis Softech Pvt. Ltd. Noida IT/ITES 10.05

2 Airmid Developers Limited. Gurgaon IT/ITES 11.66

3 Anant Raj Industries Ltd. Sonepat IT/ITES 10

4 Ansal IT City and Parks Limited Greater Noida IT/ITES 30.41

5 Ansal Kamdhenu Engineering SEZ Ltd. Sonepat Engineering 101.24

6 Ansal SEZ Projects Limited Gurgaon IT/ITES 10.88

7 Ascendant Estates Private Limited Gurgaon IT/ITES 12.59

8 Canton Buildwell Pvt. Ltd. Gurgaon IT/ITES 10.16

9 DLF Cyber City Developers Ltd. Gurgaon IT/ITES 10.73

10 DLF Limited Gurgaon IT/ITES 12.06

11 DLF Limited Sonepat IT/ITES 10.25

12 Dr. Fresh Health Pvt. Ltd. Gurgaon IT/ITES 23.43

13 G. P. Realtors Private Limited Gurgaon IT/ITES 18.86

14 Gallant Infrastructure Pvt. Ltd. Greater Noida IT/ITES 33.21

15 GHI Finlease and Investment Ltd. Gurgaon IT/ITES 12.93

16 Golden Tower Infratech Pvt. Ltd. Noida IT/ITES 10

17 Gurgaon Infospace Ltd. Gurgaon IT/ITES 11.2

18 HCL Technologies Limited Noida IT/ITES 16.91

19 IVR Prime IT SEZ Pvt. Ltd. Noida IT/ITES 10

20 Jubliant Infracon Pvt. Ltd. Noida IT/ITES 10.17

21 Luxor Cyber City Pvt. Ltd. Gurgaon IT/ITES 27.8

22 Mayar Infrastructure Development Pvt. Ltd Gurgaon Biotechnology 12.5

23 Mayar Infrastructure Development Pvt. Ltd Gurgaon Biotechnology 25.71

24 Metro Valley Business Park Private Limited Gurgaon IT 10.39

25 Mohan Investments and PropertiesPrivate Limited Gurgaon IT/ITES 27.9

26 Moser Baer India Limited Greater Noida Non-Conventional Energy 11.9

27 NIIT Technologies Limited SEZ Greater Noida IT/ITES 10.2

28 Orient Craft Infrastructure Ltd. Gurgaon Textiles 135.27

Name Location Type

Source: Ministry of Commerce & Industry, Dept. of Commerce

29 OSE Infrastructure Limited Noida IT/ITES 10.11

30 Parsvnath SEZ Ltd. Gurgaon IT/ITES 42.7

31 Perfect IT SEZ Pvt. Ltd. Noida IT/ITES 10

32 Perpetual Infracon Pvt. Ltd. Faridabad IT/ITES 21.7

33 Progressive Buildstate Pvt. Ltd. Gurgaon IT/ITES 29.93

34 Raheja Haryana SEZ Developers Pvt. Ltd. Gurgaon Engineering 103.01

Electronics35 Sarv-Mangal Noida Hardware & 10.05

Realtech Pvt. Ltd. Softwareincluding IT/ITES

36 Seaview Developers Limited Noida IT 12

Main37 Selecto systems Pvt. Ltd. Mathura IT/ITES 3.34

RoadFaridabad

38 Suncity Haryana SEZ Developers Pvt. Ltd. Gurgaon IT 67.64

39 Sunwise PropertiesPvt. Ltd. Gurgaon IT/ITES 10.13

40 Unitech Hi-tech Projects Pvt. Ltd. Noida IT/ITES 10.08

41 Unitech Infra Con Ltd. Noida IT/ITES 20.23

42 Unitech Realty Projects Ltd. Gurgaon IT/ITES 10.04

43 Uppal Developer Private Limited Gurgaon Multiservices 106.31

44 WIPRO Limited Greater Noida IT/ITES 20.23

The Reliance Haryana SEZ at Gurgaon and Jhajjar joint venture agreement between Reliance Ventures Ltd.

(a 100 per cent subsidiary of Reliance Industries Ltd.) and the Haryana State Industrial Development

Corporation (HSIDC) was signed on June 19, 2006, for setting up a multi-product mega special economic

zone over 25,000 acres in Gurgaon-Jhajjar in Haryana (that was later bifurcated into two SEZs — 12,500 acres

each at Gurgaon and Jhajjar). The land acquiring process has been started for the SEZ.

This 10,000-hectare Reliance SEZ, billed to be the largest in the country, with connectivity to the Kundali-

Maneswar-Palwal (KMP) Expressway in Haryana and the Delhi-Jaipur National Highway, will have its own

airport and rail-line. The SEZ will have its own power generation plant meeting its requirements of 400 MW.

The layout of the Rs. 250,000 million SEZ will be such that it caters to the basic, social, industrial and

residential infrastructure in a manner that each of the areas would be self-sufficient in terms of the basic

amenities of banks, schools, post offices, police and transport infrastructure. The plan, according to Reliance

Industries, includes internal development of roads, water supply, power generation and supply and

sewerage.

Major Locations within Delhi

Bordered by Haryana in the east and by Uttar Pradesh across the river Yamuna, the location of Delhi is such

that a major part of the city falls on the western side of the Yamuna River.

Delhi can be divided in six locations: Central Delhi, East Delhi, West Delhi, South Delhi, North Delhi and NCR

Satellite Towns (Gurgaon, & Faridabad in Haryana and Noida, Greater Noida, & Ghaziabad in Uttar Pradesh).

With the inception of NCR Satellite Towns, Delhi has been relieved of the burden of growing demands from

corporate bodies and government establishments.

5%

2%5%

2% 2% 2%

82%

Distribution of SEZ Types

IT/ITES

Electronics Hardware

Engineering

Biotechnology

Non-Conventional Energy

Textiles

Multiservices

DELHI

Pitampura Model Town

KashmeriGate

Karol Bagh

ConnaughtPlace (CP)

HauzKhaz

VasantVihar

SouthExtension

GreenPark

Gurgaon

DaryaGanj

Faridabad

PreetVihar

Anand Vihar

Noida

Dwarka

Tilak Nagar

Janakpuri

RajouriGarden

PunjabiBagh

Patel NagarGaziabad

Greater Noida

City Map

West Delhi

Central Delhi

North Delhi

East Delhi

South Delhi

Note: Map not to scale and is for illustration purposes only.

Organised Retail Development

Presently there are 65 operational malls in Delhi NCR region spread across 23.7 million sq. ft. Two thirds

of the operational mall space is concentrated in Delhi and Gurgaon. Additional mall space of around

19.4 million sq. ft. is expected by end of 2012.

Delhi NCR Mall Space Distribution

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

Delhi Gurgaon Faridabad Noida Gr. Noida Ghaziabad

Mall

Sp

ace

inM

illio

nsq

.ft.

Operational Proposed/Under Construction

Details of malls in Delhi NCR are tabulated below:

1 Ansal Plaza Delhi 0.20 Operational

2 City Square Delhi 0.30 Operational

3 Courtyard Delhi 0.60 Operational

4 Cross River Mall Delhi 0.25 Operational

5 DT City Centre Delhi 0.25 Operational

6 Inderlok Metro Delhi 0.20 Operational

7 Mega Mall- Shahdara Delhi 0.40 Operational

8 Metrowalk Delhi 0.22 Operational

9 MGF Metropolitan Delhi 0.50 Operational

10 North Square Mall Delhi 0.06 Operational

11 Pacific (Rajouri Garden) Delhi 0.60 Operational

Site LocationSr. No. Mall NameTotal Area

in million sq. ft. Status

12 Select City Walk Delhi 0.50 Operational

13 Shahdara Metro Delhi 0.15 Operational

14 Shop'in Park - North Delhi 0.30 Operational

15 South Court Delhi 0.40 Operational

16 Southern Park Delhi 0.25 Operational

17 StarCity Mall Delhi 0.25 Operational

18 TDI Mall Delhi 0.20 Operational

19 TDI Paragon Delhi 0.15 Operational

20 V3S East Centre Delhi 0.45 Operational

21 V3S Rohini Dist Centre Delhi 0.40 Operational

22 Vasant Square Delhi 0.25 Operational

23 Wedding Souk Delhi 0.15 Operational

24 West Gate Delhi 0.50 Operational

25 Ansal Crown Plaza Faridabad 0.15 Operational

26 City Mall Faridabad 0.20 Operational

27 Crown Interiorz Faridabad 0.70 Operational

28 Destination Point Faridabad 0.20 Operational

29 Eldeco Station1 Faridabad 0.25 Operational

30 Eros EF3 Mall Faridabad 0.25 Operational

31 Eros E-Square Mall Faridabad 0.25 Operational

32 Pristine Mall Faridabad 0.20 Operational

33 SLF Mall Faridabad 0.20 Operational

34 SRS World Faridabad 0.15 Operational

35 Aditya Mega Mall Ghaziabad 0.50 Operational

36 AEZ Carnival Country Mall Ghaziabad 0.35 Operational

37 Ansal Plaza (Factory Outlet Mall) Ghaziabad 0.20 Operational

38 East Delhi Mall (EDM) Ghaziabad 0.30 Operational

39 Galaxie Ghaziabad 0.15 Operational

40 MMX Mall Ghaziabad 0.20 Operational

41 Pacific Ghaziabad 0.50 Operational

42 Shipra Mall Ghaziabad 0.45 Operational

43 Shopprix Mall Ghaziabad 0.10 Operational

44 The East End Mall Ghaziabad 0.25 Operational

45 Ansal Plaza Gr. Noida 0.75 Operational

46 Ambi Mall Gurgaon 1.80 Operational

47 Ansal Plaza Gurgaon 0.15 Operational

48 Central Plaza Gurgaon 0.25 Operational

49 City Centre Gurgaon 0.26 Operational

50 Gold Souk Gurgaon 0.18 Operational

51 Grand Mall Gurgaon 0.23 Operational

52 Gurgaon Central Gurgaon 0.25 Operational

53 JMD Arcade Gurgaon 0.25 Operational

54 JMD Regent Mall Gurgaon 0.23 Operational

55 Mega City Gurgaon 0.20 Operational

56 Mega Mall Gurgaon 2.75 Operational

57 MGF Metropolitan Mall Gurgaon 0.25 Operational

58 MGF Plaza Gurgaon 0.15 Operational

59 Omaxe Plaza Gurgaon 0.25 Operational

60 Sahara Mall Gurgaon 0.23 Operational

61 Star Mall Gurgaon 0.28 Operational

62 Wedding Mall Gurgaon 0.17 Operational

63 CentreStage Mall Noida 0.30 Operational

64 Spice World Noida 0.25 Operational

65 The Great India Place Noida 1.40 Operational

66 Ambi Mall Delhi 0.80 Completed but not operational

67 Citadel Delhi 0.17 Completed but not operational

68 DLF Vasant Place Delhi 0.90 Completed but not operational

69 Galleria Delhi 0.20 Completed but not operational

70 North Gate Orbit Plaza Delhi 0.20 Completed but not operational

71 Shop'in Park - East Delhi 0.09 Completed but not operational

72 V3S Ring Road Mall Delhi 0.30 Completed but not operational

73 Eros market place Ghaziabad 0.20 Completed but not operational

74 Jaipuria Sunrise Mall Ghaziabad 0.20 Completed but not operational

75 City Mart Gurgaon 0.20 Completed but not operational

76 ILD Trade Center - Sohna Road Gurgaon 0.10 Completed but not operational

77 Plaza Gardenia Gurgaon 0.25 Completed but not operational

78 Ashiana City Mall Ghaziabad 0.20 Proposed

79 I Mall Gr. Noida 0.50 Proposed

80 Niho Mall Gurgaon 0.25 Proposed

81 Salcon Mall Gurgaon 0.25 Proposed

82 Gardens Galleria Noida 0.55 Proposed

83 Akshardham Metro Mall Delhi 0.40 Under Construction

84 Azadpur Metro Mall Delhi 0.30 Under Construction

85 Capitol City Mall Delhi 0.15 Under Construction

86 MGF Khyber Pass Delhi 0.40 Under Construction

87 Gardenia Sky Mall Faridabad 0.25 Under Construction

Source: ICICI Property Services

88 MB Mall Faridabad 0.50 Under Construction

89 Aerens Europark Ghaziabad 0.75 Under Construction

90 Angel Mall Ghaziabad 0.35 Under Construction

91 Celebration Mall Ghaziabad 0.30 Under Construction

92 D Mall Ghaziabad 0.20 Under Construction

93 Express Mall Ghaziabad 0.15 Under Construction

94 Express Plus Mall Ghaziabad 0.15 Under Construction

95 Mahagun Metro Mall Ghaziabad 0.35 Under Construction

96 One Mall Ghaziabad NA Under Construction

97 Parsvnath Majestic Arcade Ghaziabad 0.18 Under Construction

98 Grand Venezia Gr. Noida 0.50 Under Construction

99 MSX Mall Gr. Noida 0.50 Under Construction

100 NRI City Centre Gr. Noida 0.13 Under Construction

101 Omaxe Connaught Place Gr. Noida 1.00 Under Construction

102 Gurgaon Mall Gurgaon 0.40 Under Construction

103 House2Home Gurgaon 0.20 Under Construction

104 JMD Galleria Gurgaon 0.20 Under Construction

105 Landmark Mall, Sect 66 Gurgaon 0.30 Under Construction

106 Mall of India Gurgaon 3.60 Under Construction

107 MGF Metropolis Gurgaon 0.50 Under Construction

108 Orchid Agora Gurgaon 0.17 Under Construction

109 Platinam Spaze Gurgaon 0.04 Under Construction

110 Raheja Mall Gurgaon 0.15 Under Construction

111 Senior Mall Gurgaon 0.13 Under Construction

112 South Point Gurgaon 0.14 Under Construction

113 Townsquare Noida 1.70 Under Construction

43.10Total Area in sq. ft. (Million)


Distribution of residential supply in the pipeline across Delhi NCR

Distribution of Residential Supply (No. of Units)

Delhi Noida Gurgaon Gr. Noida Faridabad Ghaziabad

32%

12%11%

16%

25%

4%

Supply of Residential Units coming up by December 2012

Residential space in Delhi seems to have exhausted, and hence whatever limited supply that is coming up commands a relatively very high price tag. Satellite towns such as Gurgaon, Ghaziabad, and Gr. Noida are where most of the supply is concentrated. More than one third of the upcoming residential supply, both in terms of units as well as and floor space, would be in Gurgaon. Price wise, Faridabad & Ghaziabad are the cheapest. Gurgaon & Noida are the costliest because of good infrastructure and employment opportunities. Gurgaon and Noida have become the hub for outsourcing industry. The total supply ready by 2012 in Delhi NCR would be around 186 million sq. ft.

Total Supply by Dec 2012(in million sq. ft.)

Total Delhi NCR 105714 185.78

Delhi 4700 8.51

Gurgaon 33689 64.77Faridabad 13000 23.15

Noida 11605 20.48Gr. Noida 16449 28.69Ghaziabad 26271 40.18

Location No. of Units

Some of the Residential Projects in Delhi

Residential Market in Delhi

Source: ICICI Retail Property Services

Average Capital Value (in Rs. / sq. ft.) 10000

Average Apartment Size (in sq. ft.) 1900

Total Supply (in no. of units) by Dec. 2012 4700

Total Supply (in mn. sq. ft.) by Dec. 2012 8.51

Delhi

With a population of over 15 million, Delhi is one of the largest cities in the world.

Delhi Metro has changed the face of the national capital. Metro route, having been extended beyond Delhi boundaries to places such as Faridabad, Gurgaon, Noida, and Ghaziabad, has made commuting easy in the NCR region.

The 2010 Commonwealth Games are scheduled to be held in New Delhi, in October 2010. This will be the largest multi-sport event conducted to date in Delhi and India generally, which has previously hosted the Asian Games in 1951 and 1982.

Delhi already has many international features of a modern and well-planned city. However, to get ready for the huge influx of tourists visiting Delhi during the Games, the Government of India has taken many steps to improve the city. This includes city beautification, transportation development, upgrading of many old structures etc. Many five stars hotels/ service apartments, expressways, flyovers and metro works have already been awarded & construction works are going on in full swing.


Capital Values for No. of 2 BHK as on July 2009 Units Completion

Commonwealth Games village MGF

La Tropicana Parsvnath Rs. 2.5 Cr onwards (3 BHK) 450 July 2012

Capital Greens DLF Rs. 65 lacs onwards 1400 Apr 2012

Queen's Court DLF Rs. 9.54 Cr onwards (4 BHK) 21 Dec 2010

Victoria Garden M2K Rs. 1.40 Cr onwards (2 BHK) 262 Dec 2009

Date of

Emaar

DeveloperProject

Rs. 1.84 Cr onwards 1158 Dec 2009

Residential Property Rates in prime residential markets in North Delhi


Note: Rates mentioned are land rates

Location Average Capital Values (Rs./sq. ft.) Outlook

Pitampura 18800 R

Rohini 12000 S

Rohini (Built-up rate) 3800-7000 SS

Ashok Vihar 18500 R

Model Town 15600 SW

Civil Lines 11200 SS

Pritampura Rohini Ashok Vihar

Source: ICICI Mortgage Valuation Group (Assuming 100 as a base reference no. for March 2005)

Property Price Movement Index (March 2005 – June 2009)

Property Price Index: North Delhi

50

100

150

200

250

0

Mar

2005

Mar

2006

Mar

2007

Jun

2007

Sept

2007

Dec

2007

Mar

2008

Jun

2008

Sept

2008

Dec

2008

Mar

2009

Jun

2009

North Delhi

North Delhi is counted amongst the most crowded area of the Delhi and beholds region like Delhi Gate, Kashmere Gate, Darya Ganj, Model Town, Pitampura and Civil Lines. The area also beholds chaotic market of Paharganj and one of the famous campuses - Delhi University. North Delhi houses many recreational facilities, hospitals, accommodations that make this place one of the best places to live in. ISBT(Inter State Bus Terminal), Sarai Rohilla, Kishan Ganj, Subzi Mandi, Old Delhi Railway Station, first underground metro has started in North District of Delhi. From Model town, you can easily get the GT Karnal Road and get linked with Haryana and then Punjab.

All the major locations of the area except some pockets of Rohini have witnessed plotted development with self constructed low rise residential units. The plots in these localities are very big in size, thus have a very high ticket size for resale transactions.

Outlook Key: R - Rising • F - Falling • S - Stagnant • SW - Stagnant but likely to weaken • SS - Stagnant but likely to strengthen

South Delhi

South Delhi is an administrative district of the National Capital Territory of Delhi in India. South Delhi has

the most posh colonies in Delhi and boasts of location such as Vasant Vihar, Anand Niketan, Golf Links,

Chanakyapuri, Panchsheel, GK I & II, Jorbagh, Safdarjung, South Extension and Lajpat Nagar. It has some

of the city’s best stores, hotels, infrastructures, tourists attractions, markets, historical monuments,

restaurants and nightspots.

The residential units are bungalows, independent floors, or DDA (Delhi Development Authority) flats. South

Delhi is a mature market dominated by resale transactions. This is mainly an end user market hence although

the transaction volumes are low, the value is high.

North Delhi

North (A) North (R&L)

0

50

100

150

200

250

300

350

400

450

Mar

2005

Mar

2006

Mar

2007

Jun

2007

Sept

2007

Dec

2007

Mar

2008

Jun

2008

Sept

2008

Dec

2008

Mar

2009

Jun

2009

Comparison of actual (A) and real & logical (R&L) price movement

The real & logical (R&L) price is considered to move in line with the consumer price index. Below table brings

out a comparison between quarterly property price movements and changes in consumer price index for

North Delhi. Since zone wise inflation data is not available we have substituted the Delhi inflation figures

for each zone.

North Delhi shows less disparity between the actual property prices and the real & logical prices, though the

deviation has been on the rise over last two years, as the property prices have increased at almost double

the rate as compared with the real & logical prices.

Residential Property Rates in prime residential markets in South Delhi


Note: Rates mentioned are based on Built-up area & are subject to amenities, upkeep & may vary from apartment to apartment within the same building.


Prithviraj Road / Aurangzeb Road 36000-39000 SS

Chankyapuri 36000-39000 SS

Golf Links 37000-40000 SS

Sundar Nagar 30000-35000 SS

Jorbagh 30000-35000 SS

Shantiniketan / Westend 28000-32000 SS

Vasant Vihar / Anand Niketan 28000-32000 SS

Panchsheel 22000-25000 SS

Anand Lok / Niti Bagh 20000-23000 SS

Maharani Bagh / Friends Colony 16000-18000 SS

GK I / GK II / South Ex 16000-18000 SS

Vasant Kunj 8000-8500 SS


Property Price Index: South Delhi

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out a comparison between quarterly property price movements and changes in consumer price index for

South Delhi. Since zone wise inflation data is not available we have substituted the Delhi inflation figures for

each zone.

Below chart depicts that the gap between the actual property price points and the real & logical prices in

South Delhi have constantly widened over the last couple of years.

South Delhi

South (A) South (R&L)

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East Delhi

Yamuna River in Delhi divides the city into two parts. The part of Delhi that falls on the eastern side of the river

is often referred to as East Delhi. This region is better known as the trans Yamuna area and comprises regions

like Preet Vihar, Mayur Vihar, Gandhi Nagar, Vivek Vihar and Shahadara. Most of the old residential colonies

here are closely packed with narrow busy lanes. After the consistent efforts of State Government, there are

now better roads and well established residential areas.

It is bounded by the Uttar Pradesh border comprising Noida and Ghaziabad. Common Wealth Games will

take place in East Delhi. There is a healthy mix of societies, DDA flats and bungalows. Crowded with a

number of small and big shops, this place is considered as one of the best commercial hubs in Delhi. Mayur

Vihar Zone and Patparganj Zone are the key areas of East Delhi.

Source: ICICI Property ServicesNote: Rates mentioned are based on Built-up area & are subject to amenities, upkeep & may vary from apartment to apartment within the same building.


Mayur Vihar 5000-5500 SS

Patparganj 5000-5500 SS

Residential Property Rates in prime residential markets in East Delhi


Property Price Index: East Delhi


Mayur Vihar Zone Patparganj Zone


The real & logical (R&L) price is considered to move in line with the consumer price index. Below tablebrings out a comparison between quarterly property price movements and changes in consumer priceindex for East Delhi. Since zone wise inflation data is not available we have substituted the Delhi inflation figures for each zone.

The actual property prices in East Delhi have consistently exceeded the real & logical prices over a periodof years.

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West Delhi

Administratively, the district is divided into three subdivisions: Patel Nagar, Rajouri Garden, and Punjabi Bagh. Most of the areas under western part of Delhi are shopping area. From designer wears to furnishings and lights, this place is famous for the market it owns.

Major residential and commercial areas like Janakpuri, Dwarka, Punjabi Bagh, Tilak Nagar are located in West Delhi. The region is well located and has connectivity with Metro, Rail and Road. Rajouri Garden area of West Delhi is witnessing large scale construction of Shopping Malls. Janakpuri is considered one of the best residential colonies of West Delhi.

DLF Capital Greens, Shivaji Marg Delhi, is a landmark project coming up right in the heart of the city spread over 38 acres of land. The project is surrounded by more than 100 acres of green forest land maintained by DDA. Possession of the project is expected by mid of 2012.

Dwarka, The Subcity

The subcity is located in southwest Delhi in the vicinity of International and Domestic airports.With the unavailability of land in rest of Delhi, Dwarka has become an apparent choice for real estate investment in the region.

The opening up of 4-lane Dwarka flyover in 2006 has provided for better connectivity to the subcity by enabling non-stop movement of traffic from Palam to Dwarka Sector 1 and 2. There are in all 29sectors in Dwarka, out of which 23 are almost developed and Sector 24, 25 and 26 are under development. Dwarka has a robust and well connected road network built to modern specifications to each of itssectors and adjoining areas. The subcity will be connected to the mother city by 4 major roads fromall directions. It is bounded by NH-8, Outer Ring Road, Najafgarh Road, Pankha Road, and the Rewarirailway line.

The subcity is well connected by Metro rail with the city center and other major parts of the city. There are a total of 8 metro stations in Dwarka and two more under construction (the highest for any colony). After Chanakya Puri, New Delhi's second diplomatic enclave is to come up in Sectors 26 to 29, planned to house embassies of at least 39 nations. Delhi's 5th and the largest Inter State Bus Terminus (ISBT) is coming at Sector 23. India's largest Exhibition and Convention Center to be built by DLF in Sector 24 by 2010. 7 Sports Complexes have been planned in the subcity, of which 1 has been constructed by DDA and is fully functional. Several 5 and 7 star hotels have also been planned across the subcity, most likely to come up before the Commonwealth Games in 2010.

Residential Property Rates in prime residential markets in West Delhi

Location Average Capital Values (Rs./sq.ft) Outlook

Janakpuri 17250 SS

Dwarka (Built-up rate) 5000-5500 S

Punjabi Bagh 15700 SS

Paschim Vihar 15200 R

Saraswati Vihar 18500 R

Kohat Enclave 19000 R

Meera Bagh 15500 R

RBI Enclave 14500 R

Bhaera Enclave 14500 SS

Guru Har Kishan Nagar 14200 SS

Vikaspuri 13800 SW

Shivaji Enclave 13500 SS

Rajouri Garden 14500 SS

Hari Nagar 13800 R

Kirti Nagar 14200 R

Ramesh Nagar 11500 SS


Source: ICICI Property ServicesNote: Rates mentioned are land rates.

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The real & logical (R&L) price is considered to move in line with the consumer price index. Below table brings out a comparison between quarterly property price movements and changes in consumer price index for West Delhi. Since zone wise inflation data is not available we have substituted the Delhi inflation figures for each zone.

The gap between the actual property prices and the real & logical prices has steadily widened over the years.

Janakpuri Rohini

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Property Price Index: West Delhi


West Delhi

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NCR Satellite Towns

The e-commerce industries in NCR have Noida and Gurgaon as their base cities with maximum number of IT

companies having their headquarters in these areas. The area also witnesses huge immigration for

employment opportunities.

NCR towns Gurgaon and Faridabad coming under Haryana have been granted permission for the

registration of independent residential floors as independent dwelling units by the Haryana government by

issuing two ordinances, "The Haryana Development and Regulation of Urban Areas (Amendment)

Ordinance, 2009" and "The Haryana Urban Development Authority (Amendment) Ordinance, 2009". This

could lead to increase in number of projects which offer an option to possess independent floors.

NCR towns of Noida, Greater Noida and Ghaziabad come under Uttar Pradesh government’s jurisdiction.

After Noida, Ghaziabad is also emerging as a favourable destination owing to significantly lower property

rates, as compared to the other suburbs in the NCR.

Gurgaon

Over the past 20 years, the city has grown tremendously as a manufacturing, outsourcing and shopping

destination due to its world-class infrastructure at competitive prices and its strategic location (connected to

Delhi Airport via a private Expressway, Mundra Port via railway, and New Delhi via Delhi Metro). A plethora of

BPOs, KPOs and shopping malls dot the cityscape. Quick access from Delhi due to completion of the

widening and conversion of the 28 km Delhi to Gurgaon expressway section of the National Highway (NH-8)

into a six-to-eight lane access controlled highway on a Build, Operate, and Transfer (BOT) basis. Work on

KMP Expressway (Kundli-Manesar-Palwal) has started and will be coming up soon. Almost 52 SEZs are

already approved in Haryana. Manesar, Dharuhera, Bhiwadi, and Riwadi are few cities coming up along NH8.

Global Health's “Medanta-Medicity” the Super Specialty Tertiary Care Hospital with a capacity of 1,250 beds

envisaging an investment of over Rs. 9,000 million, promoted by renowned cardiologist Naresh Trehan, will

start operations from October 2009. The first phase would be operational with 600 beds and by the end of

2010 would start operating at the full capacity.

Fortis Healthcare Medicity, being built in Gurgaon, is set to open with three centres of excellence by October

2010. The project, which aims to set up a 1000 beds multi-specialty hospital for the fast growing hospital

chain, Fortis Healthcare, will have nearly 400 beds for three centres of excellence - oncology, trauma care

and paediatric care - in the first phase of operations. The medicity will include medical care facilities for all

diseases, plus super speciaity hospital conforming to international scale and standards at Gurgaon in Delhi.

The name of the medicity will be Fortis Healthcare International Institute of Medical Sciences (FIIMS).

There are more number of high end apartments in Gurgaon than in any other area of NCR. Major builders in

the area include DLF, Unitech, Ansals, MGF, Parsvnath, Vipul, Vatika, Ambience, Sun city & Omaxe.

Capital Values for No. of 2BHK as in July 2009 Units completion

The Close Unitech Rs. 75 lacs onwards (3BHK) 2380 Dec 2010

Sun Breeze Unitech Rs. 30 lacs onwards 700 July 2012

New Town Heights DLF Rs. 39.6 lacs onwards (3BHK) 3000 Dec 2011

Express Green DLF Rs. 39.6 lacs onwards (3BHK) 2000 Dec 2011

Lifestyle Vatika Rs. 29.9 lacs onwards 900 Dec 2011

Emerald Floors Emaar MGF Rs. 44.4 lacs onwards (3BHK) 800 Dec 2011

Project

Some of the Residential Projects in Gurgaon


Residential Market in Gurgaon

Average Capital Value (in Rs./sq. ft.) 4100





Project Developer


Note: Rates mentioned are based on Built-up area & are subject to amenities, upkeep & may vary from apartment to apartment within the same building

Residential Property Rates in prime residential markets of Gurgaon

Location Average Rates (Rs./sq. ft.) Market Outlook

MG Road 7000-8000 S

Sohna Road 3000-3600 S

Nirvana Country 3500-4500 S

Golf Course Road 5500-6500 SW

New Gurgaon

(Sec 91, 90, 86, 88, 81)

Sector 56, 55 3500-4000 S

Sector 43 3500-4400 S

Palam Vihar 3000-4000 S

DLF Phase-I 5500-6500 SW

DLF Phase-V 5000-6000 SW

Manesar 2000-2400 SW

Dharuhera 1500-1700 SW

SW2100-2400


Property Price Index: Gurgaon



Note: Property price values for Old Gurgaon- Sector 92, Sector 108 and Sector 109 are the same throughout

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Golf Course Road Sector 49 Sector 43 Sector 55 Sector 56 Sohna RoadM G Road Old Gurgaon- Sector 92 Sector 108 Sector 109 Extended Golf Course Road


The real & logical (R&L) price is considered to move in line with the consumer price index. Below table brings out a comparison between quarterly property price movements and changes in consumer price index for Gurgaon. Since zone wise inflation data is not available we have substituted the Delhi inflation figures for each zone.

The actual property prices are well above the real and logical price points in Gurgaon, however since March 2008, the gap seems to be reducing at a steady pace.

Faridabad

Faridabad with 300 large and 10000 small scale industries was one of the leading industrial cities of Haryana, a popular choice for setting up industry due to its proximity to Delhi and its location on the Delhi - Mathura road. Much before the advent of Gurgaon as the centre for industrial development in Haryana, Faridabad was the favourite destination of industries. However, in recent times it has fallen much behind the neighbouring towns of Noida, Okhla and Gurgaon in attracting new industry.

It is bounded by the National Capital Territory of Delhi on its north, Gurgaon District on the west and Uttar Pradesh State on its east and south. Delhi-Mathura National Highway-2 (Shershah Suri Marg) passes through the centre of the district.

The Badarpur flyover, a 4.4-km signal-free highway project, which includes a 3 km long six-lane elevated highway. The elevated corridor will be a crucial link between Delhi and Faridabad and also play a key role in easing the traffic flow. The proposed road will start near NTPC, Badarpur and end near Sector-37 crossing in Faridabad. It will do away with all the seven junctions on this stretch.

The Delhi Metro would run on a 13.5-km long stretch in the Faridabad city. The Metro will enter from Badarpur border from Delhi side and stop at Sarai and YMCA will be the last station. Construction works are going on full swing to meet the Dec 2010 deadline. The Haryana government has also started work for four-laning of Gurgaon-Faridabad Road.

The major developers in the area are BPTP, Omaxe & Ansal. Now this region has gained resurgent interest and is fast catching up as the next hot destination.

Gurgaon

Gurgaon (A) Gurgaon (R&L)

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Residential Market in Faridabad


Some of the Residential Projects in Faridabad




Total Supply (in mn. sq.ft.) by Dec. 2012 23.15

Source: ICICI Retail Property ServicesNote: Rates mentioned are based on Built-up area & are subject to amenities, upkeep & may vary from apartment to apartment within the same building.

Location Average Rates (Rs. / sq. ft.) Market Outlook

Trans canal (Sector 75-77, 89) 1600-2000 SS

Sector 10,12,15 2400-3000 SW

Sector 21, 41, 42, 46 2700-4000 SS

Residential Property Rates in prime residential markets in Faridabad


Capital Values for Project2BHK as in July 2009 completion

Floors BPTP Rs. 23 lacs onwards 300 July 2012

Heights Omaxe Rs. 27 lacs onwards 400 Sep 2010

Park Elite Premium BPTP Rs. 20 lacs onwards 1000 July 2012

Park Elite Floors BPTP Rs. 20 lacs onwards 3000 June 2012

Project Developer No. of Units



The real & logical (R&L) price is considered to move in line with the consumer price index. Below table brings out a comparison between quarterly property price movements and changes in consumer price index for Faridabad. Since zone wise inflation data is not available we have substituted the Delhi inflation figures for each zone. Below chart depicts that the actual property prices in Faridabad have consistently exceeded the real & logical price points over a period of years.

Faridabad

Faridabad (A) Faridabad (R&L)

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Property Price Index: Faridabad


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Old Faridabad Sector 42 (Omaxe Green Valley)

Charm Wood

Sector 21C

Trans Canal

NOIDA

The New Okhla Industrial Development Area, usually shortened to , is an area under the management

of the New Okhla Industrial Development Authority. The city, located in Gautam Buddha Nagar district of

Uttar Pradesh, was created under the UP Industrial Area Development Act. It has first-class amenities and is

considered to be one of the most modern suburbs of Delhi in the National Capital Region. It is also home to

the Noida Film City. Noida is bounded by NH-24 Bye-Pass in the North beyond which the Ghaziabad

Development Area exists, in the East by River Hindon beyond which Greater Noida Industrial Development

Area exists, in the West by River Yamuna, beyond which are the States of Delhi and Haryana and in the South

is the meeting point of the rivers Yamuna and Hindon.

Noida has recently become a hub for multinational firms outsourcing IT services. Many large software and

BPO companies have their offices in the city. Adobe System, TCS, ATC Labs, Interra, Global Logic (previously

Induslogic), CSC, HCL, EXL, Birlasoft, Perot, Impetus STMicro Electronics & Xansa have their offices in

Noida. Software Technologies Park is also headquartered in Noida.

Many other companies have their Indian branch offices in Noida because of the Special Economic Zone, the

suburban atmosphere in Noida and its proximity to Delhi.

The Noida metro is set to be functional by October 2009. The whole stretch will be on elevated line and trains

would run at an interval of six minutes between stations. Also, the existing eight-lane DND Toll bridge flyover

provides ease and comfort to road-traffic into and out of Noida.

The 550 meter long, eight lane Noida Toll Bridge across Yamuna connecting Maharani Bagh in Delhi to Noida

has further reduced the distance, time and cost of commuting to and fro Delhi-Noida. The major developers

in the area are Jaypee, Unitech, ATS, Eldeco, Supertech, Parsvnath, and Omaxe. It provides a very good

access point to Delhi, Greater Noida, Ghaziabad, Faridabad and Agra that no other NCR township can match.

Metro connectivity by October 2009, connectivity to Delhi by DND Flyway, Expressways, highways and

district roads, have all boosted the real estate market of Noida.

Noida Authority has increased the FSI to 2.75 from 1.75, thus bringing down the cost of owning an apartment

in Noida.

Noida

Residential Market in Noida

Average Capital Value (in Rs. / sq. ft.) 4500


Total Supply (in No. of units) by Dec. 2012 11605



Some of the Residential Projects in Noida


Grandwoods Omaxe Rs. 53.3 lacs onwards 2000 Dec 2009

Greens Jaypee Rs. 66.3 lacs onwards 2300 Dec 2011

Klassic Jaypee Rs. 39.96 lacs onwards 1400 Dec 2011

Aman Jaypee Rs. 24 lacs onwards 3300 July 2012

Kosmos Jaypee Rs. 29 lacs onwards 2500 Aug 2012

Lotus Boulevard 3C Rs. 33.75 lacs onwards 400 Aug 2011

Unihomes Unitech Rs. 25 lacs onwards 1000 July 2012

Residential Property Rates in prime residential markets in Noida



Sector 44 5500-6000 SS

Sector 50 4600-5100 SS

Sector 26 4500-5500 SS

Sector 119 3000-3500 S

Sector 112 3000-3500 S

Expressway 3330-5700 SW

Sector 61, 62, 63, 59 3500-4500 SS

Sector 15 A,16 (Land Rate) 14000-16000 SS

Sector 28 4000-5000 SS

Sector 29 4000-5000 SS

Sector 30 4000-5000 SS

Source: ICICI Retail Property ServicesNote: Rates mentioned are based on Built-up area & are subject to amenities, upkeep & may vary from apartment to apartment within the same




The real & logical (R&L) price is considered to move in line with the consumer price index. Below table

brings out a comparison between quarterly property price movements and changes in consumer price

index for Noida. Since zone wise inflation data is not available we have substituted the Delhi inflation

figures for each zone.

Noida

Noida (A) Noida (R&L)

As is evident from the above chart, there is a huge gap between the actual property prices and the real & logical prices in Noida.


Property Price Index: Noida

sector 93 sector 50 sector 51 sector 52 sector 44

sector 61 sector 128

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Greater Noida

India's first city with a master traffic plan, privatized power – for uninterrupted power supply, smooth and

wide roads, unfailing optical fibre-based telephone network, abundant clean and sweet water, underground

drainage, plenty open spaces, lush green environs, and various other planned infrastructure corridors, the

Greater Noida Industrial Development Authority (GNIDA) has developed Greater Noida into an impeccably

planned picturesque city.

• 35 minutes from New Delhi (24 km, 8-lane expressway linking GN to Delhi (now operational))

• Proposed Taj International Airport and Aviation hub near Gr. Noida

• Proposed 160 km long Taj Expressway will connect G. Noida to Agra in1 hr, 20 minutes

• 850 km high speed corridor connecting Delhi to Varanasi in less than 10 hours

• Expected Metro connectivity by 2014

• Proposed 'Formula 1' track

• Proposed 'Night Safari' by Sentosa Singapore Company

• 200 acres 'Fun Park' proposed by the promoters of ESSEL WORLD, Mumbai

Greater Noida is India's cleanest city with more than 25% of green cover. Greater Noida is fast emerging

as a hub for automobile ancillary units with companies like Daewoo, Escorts, Honda-SIEL and New

Holland Tractors.

Greater Noida will be the best destination for IT giants and lifestyle seekers. The major developers in the

area are Jaypee, Unitech, Parsvnath and Omaxe.

Residential Market in Greater Noida






Some of the Residential Projects in Greater Noida


Residential Property Rates in prime residential markets of Greater Noida

Source: ICICI Retail Property ServicesNote: Rates mentioned are based on Built-up area & are subject to amenities, upkeep & may vary from apartment to apartment within the same building


Sector PI 2600-3000 F

Sector Mu 2200-2700 F

Alpha, Beta 2200-2700 F

Capital Values for Project 2BHK as in July 2009 completion

Capella Unitech Rs. 54.4 lacs 2000 June 2011

Cascade Unitech Rs. 45.9 lacs onwards (3BHK) 1900 July 2010

Habitat Unitech Rs. 62 lacs onwards 900 Dec 2010

Verve Unitech Rs. 56 lacs onwards 348 March 2011

Horizon Unitech Rs. 56 lacs onwards (3BHK) 1138 June 2010

Greens Jaypee Rs. 56 lacs onwards 1500 Dec 2011

Plumeria Garden Uppals Rs. 32 lacs onwards 900 Dec 2009

Privilege Parsvnath Rs. 65 lacs onwards (3BHK) 450 Aug 2011

Palm Spring Omaxe Rs. 37 lacs onwards 600 Aug 2012

onwards (3BHK)





out a comparison between quarterly property price movements and changes in consumer price index

for Greater Noida. Since zone wise inflation data is not available we have substituted the Delhi inflation


Though the actual property prices have been around 15% over and above the real & logical price pointsover last few quarters, they seem to have converged by end of 2008 suggesting that the property pricesare commensurate with the real & logical prices.

Greater Noida (A) Greater Noida (R&L)

Greater Noida

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Property Price Index: Greater Noida

Sector-Alpha Sector- Pi

Ghaziabad

Ghaziabad is primarily an industrial city with manufacturers in railway coaches, diesel engines,

electroplating, bicycles, picture tubes, tapestries, glassware, pottery, vegetable oil, paint and varnish, heavy

chains, automobile pistons and rings, steel pharmaceuticals, liquor, etc. It is one of the most industrialized

cities in Uttar Pradesh. The new industry sector upcoming in Ghaziabad is of high tech plant growth boosters.

Many companies like Shriram Pistons, Unichem, Dabur, International Tobeco, Bhushan Steels, Rathi Alloys,

Crophealth Products Pvt. Ltd. and Samtel Color are giving it a new dimension.

Ghaziabad can be divided into 2 main areas viz.,Trans Hindon Area (THA) and old Ghaziabad. Old Ghaziabad

comprises Raj Nagar, Kavi Nagar, Patel Nagar, Shastri Nagar, Govindpuram and Navyug market. THA

comprises newly developed areas of Ghaziabad like Indirapuram, Kaushambi, Ramprastha, Suryanagar,

Vaishali and Vasundhara.

There are a number of private engineering colleges and management institutes in Ghaziabad. There are also

a number of medical, dental colleges, and physiotherapy institutes.The Metro extends to Dilshad Garden

station which is situated at the Apsara border on the outskirts of the city. At present it serves the areas of

Rajendra Nagar, Shalimar Garden. This line was extended to Anand Vihar and Vaishali. Recently a number of

malls and multiplexes have come up in the city and the roads are being improved by construction and

widening of flyovers. By road, Ghaziabad is well-connected on all sides to Delhi, Noida, Hapur, Modinagar,

Meerut, Saharanpur, Haridwar, etc. Indirapuram is a prime residential area which has been extended by 229

acres. Because of comparatively higher rates and land scarcity in Noida and also close proximity to Delhi and

Noida both, end users and investors are moving to Indirapuram and Ghaziabad. Major development is

happening on NH-24 and NH-58. Kaushambi can boast of a huge mall presence. Good infrastructure

development in this area & developments for the common wealth games in east Delhi is also aiding the

appreciation of property prices in this area.

Ghaziabad Authority has increased the FSI to 2.5 from 1.5, thus bringing down the cost of owning an

apartment in Ghaziabad.

Location Average Rates (Rs./sq.ft) Market Outlook

Indirapuram 2500-3500 S

Vaishali 2600-3500 S

Kaushambi 3000-4000 S

Vasundhara 2400-3000 S

Old Ghaziabad 1700-2400 S

NH-58 1500-1800 S

Govindpuram 1600-1800 S

Residential Property Rates in prime residential markets of Ghaziabad

Source: ICICI Retail Property ServicesNote: Rates mentioned are based on Built-up area & are subject to amenities, upkeep & may vary from apartment to apartment within the same building

Residential Market in GhaziabadAverage Capital Value (in Rs./sq. ft.) 2500



Total Supply (in mn. sq.ft.) by Dec. 2012 40.18Source: ICICI Retail Property Services

Some of the Residential Projects in Ghaziabad


Palm Court Aashiana Rs. 22.8 lacs onwards 1300 June 2010

Gulmohar Greens SVP Rs. 29.25 lacs onwards 1700 Dec 2010

Greenvista Gaur Rs. 28.5 lacs onwards 150 Aug 2011

Mascot (CrossingRepublic, NH24)

La Residency Aashiana Rs. 28 lacs onwards 500 Aug 2012

Mahagunpuram Mahagun Rs. 18 lacs onwards 750 Dec 2011



Mahagun Rs. 29 lacs onwards 450 Dec 2011


Indirapuram Vasundhara Vaishali Kaushambi NH 58


The real & logical (R&L) price is considered to move in line with the consumer price index. Below table

brings out a comparison between quarterly property price movements and changes in consumer price

index for Ghaziabad. Since zone wise inflation data is not available we have substituted the Delhi inflation


As is evident from the above chart, the actual property prices in Ghaziabad are consistently on a higher side as compared with the real & logical prices.

Ghaziabad

Ghaziabad (A) Ghaziabad (R&L)


Property Price Index: Ghaziabad


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2007

Sept

2007

Dec

2007

Mar

2008

Jun

2008

Sept

2008

Dec

2008

Mar

2009

Jun

2009

0

50

100

150

200

250

Mar

2005

Mar

2006

Mar

2007

Jun

2007

Sept

2007

Dec

2007

Mar

2008

Jun

2008

Sept

2008

Dec

2008

Mar

2009

Jun

2009

Delhi Residential Absorption IndexThe residential transactions in Delhi have consistently been on a decline till Jan '09, as is evident from

the below chart. Jan ‘09 recorded only half the number of transactions that were made at the start of the

financial year; however, the transactions started to pick up since then which could be due to the improved

market sentiments.

Apr-08

May-08

Jun-08

Jul-08

Aug-08

Sep-08

Oct-08

Nov-08

Dec-08

Jan-09

Feb-09

Mar-09

Apr-09

0

20

40

60

80

100

120 Delhi Residential Real Estate: Absorption Index

Location Attractiveness Index

Infrastructure (connectivity, roads, proximity to markets, schools)

Residential Cost

Proximity to/ Presence oforganised retail

Proximity to CommercialDevelopment

Future Infrastructure Development

Future EmploymentGeneration

NoidaSector112 to

119 GreaterNoida

NoidaExpress

Way

IndiraPuram(Ghazia

bad)

Vaishali(Ghazia

bad)

NH58(Ghazia

bad)

GurgaonGolf

CourseRoad

GurgaonSohnaRoad

GurgaonNH8

GurgaonExt GolfCourse Road


Good / Low Cost Above Average Average / Medium Cost Below Average Bad / High Cost

About Research & Consultancy

ICICI Property Services is a division of ICICI Home Finance Company Limited, a 100% subsidiary of ICICI Bank. ICICI PSG

provides real estate solutions to home seekers, corporate investors, space occupiers and developers /landlords. ICICI Property

Services addresses the entire bandwidth of a real estate deal from concept to conclusion. Research & Consultancy (R&C), a

specialised group within ICICI PSG, offers both real estate advisory and consumer demographic analysis backed by both

primary & secondary research. The following chart explains in brief the various services offered by R&C.

Feasibility Studies Asset Advisory Strategic Advisory Market Research

• Optimum Land Use

Analysis

• Site Analysis &

SWOT

• Catchment Analysis

• Trade & Tenant Mix

• Land Valuation

• Entry Strategy

• Pricing Strategy

• City and Region

Prioritisation and

Expansion Strategy

• Supply Estimation

• Demand Projections

• Expected Absorption

Trends

• Demographic Analysis

• Consumer Trends

• Consumer Behaviour

Analysis

• Location Analysis

• Market Analysis

• Size, Pricing, Phasing

and Positioning

(Space Programming

& Demarcation for

Optimum Utilisation

of space)

• Financial Analysis

DISCLAIMER

This document is being communicated to you solely for the purposes of providing our views on current market trends.

This document is being communicated to you on a confidential basis and does not carry any right of publication or disclosure to any

third party. By accepting delivery of this document each recipient undertakes not to reproduce or distribute this presentation in

whole or in part, nor to disclose any of its contents (except to its professional advisers) without the prior written consent of ICICI HFC

Ltd., who the recipient agrees has the benefit of this undertaking. The recipient and its professional advisers will keep permanently

confidential information contained herein and not already in the public domain.

This document is not an offer, invitation or solicitation of any kind to buy or sell any security and is not intended to create any right

or obligations. Nothing in this document is intended to constitute legal, tax, securities or investment advice, or opinion regarding

the appropriateness of any investment, or a solicitation for any product or service. The use of any information set out in this

document is entirely at the recipient's own risk.

The information set out in this document has been prepared by ICICI HFC Ltd. based upon projections which have been determined

in good faith by ICICI HFC Ltd. There can be no assurance that such projections will prove to be accurate. ICICI HFC Ltd. does

not accept any responsibility for any errors whether caused by negligence or otherwise or for any loss or damage incurred by

anyone in reliance on anything set out in this document. The information in this document reflects prevailing conditions and our

views as of this date, all of which are subject to change. In preparing this document we have relied upon and assumed, without

independent verification, the accuracy and completeness of all information available from public sources or which was provided

to us or which was otherwise reviewed by us. Past performance cannot be a guide to future performance.

No reliance may be placed for any purpose whatsoever on the information contained in this document or on its completeness.

The information set out herein may be subject to updating, completion, revision, verification and amendment and such information

may change materially.

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visit us at: wwwicicihfc.com

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